Las Vegas Office Market Report Q4 2024

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Colliers Western Region

March 24, 2025

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7 page(s)

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After four consecutive quarters of increasing vacancy, Southern Nevada’s office market vacancy decreased to 11.8% this quarter. No new office projects were completed in Q4 2024, and net absorption rebounded to 126,238 square feet, the market’s highest net absorption since the second quarter of 2023. In addition, the weighted average asking rental rate for office space increased to $2.68 PSF FSG.

About the Author(s)

Juan E. Rose III | Managing Director, Las Vegas
John Stater | Research Manager, Las Vegas